If you sell a physical product, you have a lot of Q4 upside and unpredictability, but now you have to manage your cash to get to Q4 so that you can invest in building inventory to over-perform.
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To succeed at selling a losing product, you must develop seriously superior sales techniques. In addition, you have to be massively competitive and incredibly hungry to survive in that environment.
You've got to be success minded. You've got to feel that things are coming your way when you're out selling; otherwise, you won't be able to sell anything.
Number one, you can sell before you buy. I call it reverse e-commerce. You take a picture, you list it for sale, you sell it, you collect the revenue, then you go buy it and send it to the customer.
If you can't sell your product, it goes from being an asset to a liability. Learn to sell, partner with someone who can sell, or learn to be poor.
You just have to surround yourself with people who are going to support and love you before trying to sell you as a product, or push you into something you don't want to do.
The by-product is sometimes more valuable than the product.
In a company, you buy thousands of things. Every item you buy has its own footprint.
You have to manage money. Particularly with market economies. You may have a great product, but if your bottom line goes bust, then that's it.
Trying to move the volume of products we're talking about from place to place to get it ultimately into the customer's hands, to price these items, to market these items, I think the retail business is incredibly complex. But if you get it right, it's a beautiful thing.
My philosophy is that you sell things for more than you bought them.
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